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18 hours ago
Options Bulls Resume Blitz on Alphabet (GOOGL) Stock
By: Schaeffer's Investment Research | March 18, 2024
• Alphabet options had been seeing a slight uptick in bearish bets lately
• GOOGL is executing a V-shaped rally on the charts
The class A shares of Google-parent Alphabet Inc (NASDAQ:GOOGL) are 6.1% higher to trade at $149.83, after a Bloomberg report revealed that Apple (AAPL) is talking over licensing Google's Gemini artificial intelligence (AI) engine for future iPhones.
GOOGL is a consistent member of Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that attracted the highest weekly options volume during the previous 10 days. Per White's data, 2,667,198 calls exchanged over this period, compared to 1,414,617 puts. The most popular contract during this time was the March 140 call.
Despite the obvious call bias, bearish bets on Alphabet stock have grown lately. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity sports a 50-day put/call volume ratio that ranks in the 72nd percentile of its annual range.
Today, the skew tilts back toward the bulls. Over 700,000 contracts have changed hands, with calls representing roughly 510,000 of that figure. The weekly 3/22 155- and 152.50-strike calls are popular, with new positions being bought to open.
Despite the recent tech sector pullback, Alphabet stock is still up 6.5% in 2024, testing and bouncing off its 200-day moving average earlier this month. GOOGL is now on track for its seventh win in eight sessions, and is once more nearing its Jan. 29 record high of $153.78.
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DiscoverGold
22 hours ago
Alphabet Shares Rise Premarket After Report of AI Talks with Apple
By: Market Talk | March 18, 2024
Shares of Google parent, Alphabet, are on the rise in Monday premarket trading after Bloomberg reported that the company is in talks with Apple to incorporate Google's artificial intelligence architecture into iPhones. The two companies are negotiating licensing agreements to build Google's generative AI engine, known as Gemini, into iPhones, Bloomberg reported, citing unnamed sources. Alphabet shares are up 4% at $146.76. Apple shares are up 0.4% at $173.37. (mauro.orru@wsj.com)
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DiscoverGold
3 weeks ago
Apple (AAPL) and Google (GOOGL) Flashing "Pure Weakness"
By: Erin Swenlin | March 1, 2024
We've begun talking more about the Price Momentum Oscillator (PMO) as it relates to finding "pure strength" and "pure weakness". What it all comes down to is the zero line and the PMO's behavior above or below.
We review the Magnificent 7 charts frequently and we noticed that both Apple (AAPL) and Google (GOOGL) are displaying "pure weakness," as far as the PMO is concerned. Pure weakness is defined by the PMO moving lower or moving sideways below the zero line. The distance the PMO is away from the zero line determines the veracity of the condition.
We can see with AAPL, there was a period of "pure strength" back in November. The PMO had moved above the signal line and was rising strongly. When it topped and began to fall above the zero line, it was a sign of diminishing strength. Pure weakness set in when the PMO dropped beneath the zero line, and it is currently in effect. Had we followed the signal, it would've saved quite a bit of downside.
The rest of the chart looks pretty terrible, as well with a negative RSI and Stochastics below 20. Additionally, relative strength is failing across the board.
We see a similar setup on GOOGL, but this time the signal is arriving NOW as the PMO dropped beneath the zero line. While this doesn't mean a precipitous decline is ahead, it does tell us to tighten up stops, at the very least.
There are signs that there might be further decline ahead for GOOGL. The RSI is negative, and Stochastics are below 20. Additionally, relative strength is failing across the board.
Conclusion: The PMO can be used to determine the strength or weakness in a particular move based on its location and direction around the zero line. Based on the PMO, both Apple and Google are displaying pure weakness.
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djmk2
3 weeks ago
What are Motley Fool's 5 Top AI stocks you can buy right now?
The Motley Fool has positions in and recommends in this order: Alphabet, Amazon, Meta Platforms, Nvidia, and The Trade Desk.
The MF also lists Tesla, but I am not fond of the TSLA and EV market hype. There was a reason Musk off loaded billions of dollars in TSLA stock. The more people buy EVs the lower the price of gas will be.
djmk2
3 weeks ago
Not Nvidia Or Meta: Hedge Fund Titan Bill Ackman Sees Lucrative Opportunity In This 'Magnificent 7' Stock
4:14 am ET February 27, 2024 (Benzinga) Print
Bill Ackman, the founder of Pershing Square Capital Management, has expressed his confidence in Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), the parent company of Google, as a lucrative investment opportunity.
What Happened: Ackman, in a recent conversation with computer scientist and tech YouTuber Lex Fridman last week, shared his positive outlook on Alphabet. When asked about his analysis of the tech giant, Ackman highlighted the company’s strong position in the market, particularly in the field of AI.
"So it's a business we've admired as a firm for, whatever, 15 years, but rarely got to a price that we felt we could own it," he said, adding, "Because again, the expectations were so high and price really matters."
See Also: Bill Ackman Says OpenAI’s Governance Leaves ‘Something To Be Desired,’ Echoing Elon Musk’s Doubts On Non-Profit To For-Profit Transition
DiscoverGold
1 month ago
Based on Relative Strength, Alphabet (GOOGL) Is An Unloved Stock
By: Tom Bowley | February 4, 2024
Nearly two weeks ago, I was discussing in our FREE EB Digest newsletter why I felt Alphabet (GOOGL) was poised for a decline after earnings. It was continuing to push higher, which, on the surface, was a fairly bullish signal. However, if you looked at how strong internet stocks ($DJUSNS) were performing as a whole, then it became rather obvious that the big Wall Street firms weren't overly impressed with GOOGL as it head towards its quarterly earnings release. Check out the bottom two panels - the first showing GOOGL:$DJUSNS relative strength and then the second showing the relative strength of Meta Platforms (META) vs. the internet group (META:$DJUSNS):
In our January 26th EB Digest newsletter article, I featured the above trading range (139-144) as a possible landing area for GOOGL after earnings. Heading into its earnings, GOOGL was overbought and was a SIGNIFICANT relative under performer. It's pretty obvious to me that META was leading the internet group, while GOOGL was the beneficiary of being in a strong group. GOOGL's recent weakness did, however, send the stock down into that 139-144 trading range and GOOGL is now testing a longer-term uptrend line. While I'd expect a price bounce from here, it's really relative strength that I'll be watching.
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JJ8
2 months ago
Google share price High Pole Warning today 31-Jan-2024.
GOOGL is correcting within a longer-term bullish trend. Although its MACD is presently below the signal line, shares remain above an upwards sloping 200-day moving average. Momentum for GOOGL is strongly bearish. The 14-period Slow Stochastic Oscillator is falling, as investors sell shares and drive the price lower. Today's volume is on track to be heavier than usual, with 56,758,200 shares having traded so far. The On Balance Volume indicator (OBV) is bullish. The slope of the indicator is positive and suggests that buyers are presently more active than sellers. As of 3:36 PM ET Wednesday, 01/31/2024
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2 months ago
Alphabet (GOOGL) Stock Dips After Ad Revenue Falls Short
By: Schaeffer's Investment Research | January 31, 2024
• Alphabet beat earnings and revenue expectations
• Options traders were quick to respond
Shares of Alphabet Inc (NASDAQ:GOOGL) are pulling back sharply after the Big Tech powerhouse and Google parent's fourth-quarter earnings report. Though the company turned in better-than-expected earnings and revenue, its advertising revenue disappointed Wall Street. Plus, Alphabet and Microsoft's (MSFT) artificial intelligence (AI) cost projections are weighing on tech today.
Falling further from its Jan. 29 all-time high of $153.51, GOOGL was last seen down 5.7% at $142.82. The stock seems to be getting a little support from a familiar floor at the $152 level. Still, today's drop puts a significant dip in a once healthy year-to-date gain, with the shares now up just 1.5% in 2024.
Options traders have been quick to the trigger. So far, 115,000 calls and 73,000 puts have crossed the tape, or five times the average intraday volume. The weekly 2/2 147-strike call is leading the pack, followed by the 140-strike put from the same series, with positions being bought to open at both.
Short-term options traders are likely cheering the dip, as they've been more put-biased than usual of late. This is per GOOGL's Schaeffer's put/call open interest ratio of 1.11, which stands in the 99th percentile of annual readings.
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